National Bank of Canada FI Has $235.57 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

National Bank of Canada FI increased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 33.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 529,680 shares of the software company's stock after buying an additional 132,930 shares during the quarter. National Bank of Canada FI owned 0.12% of Adobe worth $235,571,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADBE. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe in the third quarter valued at about $26,000. Groupama Asset Managment grew its stake in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company's stock valued at $27,000 after purchasing an additional 11,522 shares in the last quarter. True Wealth Design LLC increased its position in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company's stock worth $30,000 after purchasing an additional 34 shares during the last quarter. Decker Retirement Planning Inc. bought a new stake in shares of Adobe during the 4th quarter worth approximately $31,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Adobe in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Redburn Atlantic started coverage on shares of Adobe in a research report on Wednesday, February 19th. They set a "neutral" rating on the stock. Barclays dropped their target price on shares of Adobe from $675.00 to $645.00 and set an "overweight" rating on the stock in a report on Thursday, December 12th. Sanford C. Bernstein reduced their price target on Adobe from $644.00 to $587.00 and set an "outperform" rating for the company in a report on Thursday, December 12th. JPMorgan Chase & Co. dropped their price objective on Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, StockNews.com cut Adobe from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 4th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $531.54.

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Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the company's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the transaction, the executive vice president now owns 18,334 shares of the company's stock, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,075 shares of company stock valued at $2,191,826 in the last 90 days. 0.16% of the stock is owned by corporate insiders.

Adobe Price Performance

Shares of ADBE traded down $18.78 during midday trading on Thursday, hitting $367.00. The company's stock had a trading volume of 3,670,484 shares, compared to its average volume of 3,331,164. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a one year low of $367.15 and a one year high of $587.75. The stock has a market capitalization of $156.42 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. The company's fifty day simple moving average is $428.78 and its two-hundred day simple moving average is $465.84.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. The business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the prior year, the firm earned $4.48 EPS. As a group, equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.